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What Are Four Types of Benchmarks That You Should Consider

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What are four types of benchmarks that you should consider collecting?


Definitions:

Population

In statistics, the entire set of individuals or items from which samples can be drawn for analysis.

Confidence Interval

An estimated range of values calculated from a given set of sample data, reflecting where the true population parameter is expected to lie with a certain level of confidence.

Normal Distribution

A bell-shaped curve that represents the distribution of many types of data where most observations cluster around the mean.

Standard Error

A measure of the variability or dispersion of a sampling distribution.

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